|Bid||8.60 x 2513500|
|Ask||8.70 x 11600000|
|Day's range||8.60 - 8.93|
|52-week range||3.11 - 11.50|
|PE ratio (TTM)||-21.50|
|Forward Dividend & Yield||N/A (N/A)|
|1y target est||N/A|
** Oxford BioMedica shares up 12% as Novartis wins approval for pioneering leukaemia treatment, marking the first gene therapy approval in the United States ** UK company makes virus-based gene delivery ...
After 20 years of losses, gene therapy specialist Oxford BioMedica (LSE: OXB.L - news) is at last close to achieving its first profit thanks to the success of Novartis with a pioneering cancer treatment. As manufacturer of the virus-based gene delivery system central to the Novartis therapy, which re-engineers a patient's immune cells to attack cancer, the small British company will receive a modest slice of the revenue once the new drug is approved.
Novartis (IOB: 0QLR.IL - news) has signed a major contract with Oxford BioMedica (LSE: OXB.L - news) that could earn the British company more than $100 million over three years for supplying the Swiss drugmaker with material for its novel cell therapy CTL019. The deal, announced by Oxford BioMedica on Thursday, could help put the veteran biotech firm on a path to sustainable profitability. The contract is for the supply of lentiviral vectors used to generate CTL019, a new kind of treatment for hard-to-treat leukaemia that is expected to reach the market this year.
A new leukaemia treatment from Novartis (IOB: 0QLR.IL - news) for children and young adults will get priority review from the U.S. Food and Drug Administration (FDA), putting the Swiss drugmaker ahead of rivals working on similar cancer therapies. The FDA's announcement late Wednesday means the regulator plans to take action within six months on Novartis's so-called chimeric antigen receptor T cell therapy, or CAR (HKSE: 0699-OL.HK - news) -T, in partnership with University of Pennsylvania researchers.